1 In a medium skillet, melt butter or margarine over medium heat. Add coconut and pecans. Toss well,and saute until coconut is lightly browned. Set aside to cool. 2 In a large mixing bowl, beat cream cheese until fluffy. Add condensed milk and mix until smooth. Foldin whipped topping. Spread 1/4 of cream cheese mixture into each pastry shell. Sprinkle 1/4 of coconut mixtureover each pie. Drizzle 1/2 of caramel topping over each coconut layer. Follow with remaining cream cheesemixture, then remaining coconut mixture. 3 Pies may be served chilled or frozen. Note: I made this in a 9x12 pain with graham cracker crust. You could try chocolate graham crackers (whichare much cheaper than chocolate wafers). Also, I do not like to use Cool Whip (too many chemicals) unless necessary. So I used 1/2 pint of whippingcream, whipped, instead of the CW. This turns out almost fluffy in texture, not heavy like a cheesecake.